All Forum Posts by: Kao Saeteurn

@Nathan G. I actually did this 5 years ago as a renter. I paid a one time fee of 60-70 bucks for the deposit to an insurance company like you mentioned. If I messed anything up, I’d still be responsible for any repairs or damage. This is actually a good idea especially for good tenants that knew they will keep the property in good condition because I didn’t want my money sitting with a management company.

@Meir Greenblatt I have a home warranty for my rental, but it was provided by the seller. It’s paid off already. I had the oven repaired, AC compressor and condenser replaced, and heater control unit replaced. I only had to pay the service fee each time. I’ve had no issues with them so far.

@April Vogt is it too late to put this in the contract to buy that all units come empty? This should have been the first thing added if it wasn’t. The seller would have been responsible for getting them out.

@Jane S. Be cautious of accepting partial payment. The tenth may come by and no check. Their excuse may be that you accepted partial payment and that was good for the rent. I would have some kind of addendum stating that accepting partial payment is not a resolution for full payment, state the late fees etc.

@Jimmy Wen It’s just easier to organize what’s the rentals money and what’s your money. What’s the downside of just having another account? If there isn’t a good one, just open it up so you’re not confused on balancing the books.

@Alyssa K. I know it’s not ideal for a military member to move so quickly on you and if these orders are fake, I hope this doesn’t deter you from choosing a tenant that is military. As an AD member, I see the benefits of having a military member as a tenant. You are essentially guaranteed payment, because the member is required to handle all finances responsibility. If they do not pay, contact their First Sargent (Shirt) or commander and they will help you. Their pay is guaranteed to them and they don’t have to worry about getting a smaller check. I would just do a credit check to ensure they are not overspent and show signs of not getting paid.

Because I am active duty, I can also verify people in the same service with just checking their email on our global email system. Since you are not having luck getting a hold of their leadership, you probably didn’t get correct information. Seems like you were a little relaxed on your screening. I would give their commander or Shirt a call during the screening to check how long they’ve been with the unit and if they are any disciplinary issues. Good luck with this one!

@Matt K. This is incorrect information. TDY/TAD longer than 90 days allows a member to get out of a lease according to the SCRA. This is usually a deployment order. I am an Active Duty member and often get 90-100 day orders and I am able to break leases due to this. However, I have never used this because I own.

@Nadir M. As I read this posts, I get en email from my tenant stating their heater and fridge is not working lol. All I did was call the home warranty company and set up two appointments. I know how much I’m spending and for what and it gets approved by me if the warranty company won’t cover it. PMs are great but at least for now, I rather know exactly what’s going on with my house without a middle man.

@Ramses Calvillo Padilla what I do is sign up for these free landlord lease sites for a week and get some leases made. Cancel my membership prior to the trial period. I take all the best clauses from each one and make my own lease. I also use Arizona’s lease form. I forget where I got it from though.

@Bob Floss II thank you for your reply. Can I get the letter from the IRS saying the line is discharged after I close?

What does the title company need to do to get the letter? What would I need the hold harmless letter say or do? I am not familiar with a hold harmless letter. How does it help the situation? So the process for me after I close and flip would be to provide the hold harmless letter or IRS letter stating the lien is discharged to the new buyer?

I am using my own closing company separate from the auction.com closing company. Does this help?

What do I need to do to do it right? Obtain the letter of discharge from the IRS and provide that to the buyer when I flip it?

Again, thank you for your help and apologies for all the questions.